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Timbuk2 bagged by new private equity firm
October 4th, 2005 by MikeVodafone, Ringtones, Bangalore
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Via: BikeBiz.com
Timbuk2 Designs Inc., the San-Francisco based manufacturer of bicycle messenger bags, iPod cases and other lifestyle bags and accessories, has been acquired by private equity investors. Terms of the deal were not disclosed but 40 non-management employees are to share a $1m sale bonus.
The equity investment is led by a new San Francisco private equity fund, VMG Equity Partners, and the Washington, D.C.-based fund, Capital Logic Partners.
Timbuk2 remains independent and privately-held, and its current CEO, Mark Dwight, will continue to lead the company.
Keep Reading.
I wouldn’t mind being part of the 40 employees splitting that money.
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